West Texas Intermediate (WTI), futures is continuously struggling to surpass the magical figure of $100.00 from the entire week. The oil prices have remained sideways amid the unavailability of any potential trigger that could guide the asset to a directive move. The black gold has traded in a $96.28-100.70 range and is likely to continue its consolidation further.
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Crude Oil prices Slip, Taking a Breather From Massive Surge
Crude Oil prices fell on Tuesday, taking a breather after surging more than $5 a barrel in the previous session as a plunging dollar supported buying interest and on expectations the U.S. Federal Reserve’s interest rate hike may be less than thought.
Crude Oil Sinks on Demand Concerns as IEA Sees Energy Crisis Enduring
Crude Oil extended losses as a Covid-19 resurgence in China added to concerns about a global economic slowdown, with the International Energy Agency warning the worst of the energy crisis may be ahead.
Crude Oil Prices Expected to Remain in the Range of $100
Brent crude may hover around the current level of $104 a barrel for the remaining part of the current year, but may fall to $98 per barrel next year, investment bank JPMorgan said on Friday. “Under scenarios where supply is constrained, we think oil could rally to $190/380 per barrel as well.
Citi Warns Crude oil May Collapse to $65 by the Year-End on Recession
Crude oil could collapse to $65 a barrel by the end of this year and slump to $45 by end-2023 if a demand-crippling recession hits, Citigroup Inc. has warned.
Crude oil Price is consolidating
On Monday morning, the Brent price is balancing at $113 per barrel The commodity marker remains uncertain – the supply isn’t expanding as quick as it is expected to, and the demand might drop as well.
MCX Crude Selling Call Rocking, Crude 9010 to 8644 Enjoy
MCX Crude Selling Call Rocking, Crude 9010 to 8644 Enjoy – WTI crude oil adheres to profit-booking as it renews intraday low around $115.00, after rising the most in a week to poke $116.30 the previous day. While softer USD and no mercy for OPEC+ seemed to have triggered the black gold’s previous upside, mixed sentiment ahead of the US jobs report seem to weigh on the quote on early Friday.